Pentair (NYSE:PNR) Earns “Outperform” Rating from Royal Bank of Canada

Pentair (NYSE:PNR)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They currently have a $115.00 price target on the industrial products company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.69% from the company’s current price.

A number of other analysts have also commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Mizuho upped their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. KeyCorp raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group raised their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.13.

Pentair Trading Up 1.6 %

Shares of Pentair stock traded up $1.64 on Thursday, hitting $105.81. 255,989 shares of the company’s stock traded hands, compared to its average volume of 1,539,626. The firm’s 50-day moving average price is $98.77 and its two-hundred day moving average price is $87.85. The stock has a market capitalization of $17.48 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.19. Pentair has a one year low of $62.33 and a one year high of $107.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same period in the prior year, the firm earned $0.94 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, research analysts expect that Pentair will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Harbour Investments Inc. increased its holdings in Pentair by 10.7% during the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 636 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Pentair by 222.8% during the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after acquiring an additional 34,959 shares in the last quarter. Swedbank AB increased its position in shares of Pentair by 0.9% during the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after acquiring an additional 10,000 shares in the last quarter. ORG Partners LLC acquired a new position in Pentair during the 2nd quarter worth approximately $631,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Pentair in the first quarter valued at about $1,487,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.